NIC Bank partners with WorldRemit for digital money transfers to Kenya
NIC Bank partners with WorldRemit for digital money transfers to Kenya
WorldRemit customers living in over 50 countries can now send money quickly and securely to 130,000 NIC Bank Retail accounts and several new cash pickup locations
Nairobi and London, 21 January 2019: Leading digital money transfer service WorldRemit has joined forces with NIC Bank for digital money transfers to Kenya.
Kenyans living in over 50 countries, including the United Kingdom, the United States and Canada, can now send money directly from their phones to 130,000 NIC Bank Retail accounts and over 40 new cash pickup locations at NIC branches across Kenya.
Kenya is WorldRemit’s fourth largest recipient of international money transfers globally and third largest in Africa. Transactions to the country grew by over 40% in 2018 and top send countries include the UK, Australia and the USA.
NIC Bank is a leading financial services company with a presence in Kenya, Uganda and Tanzania. It is a market leader in diaspora banking services offering bank accounts, competitive forex rates, advisory and investment options such as securities, mortgages and personal loans.
The Central Bank of Kenya (CBK) estimates that remittances hit an all-time high of Sh197.12 billion ($1.95 billion) in 2017 – a 13 percent growth on the previous year.
Sharon Kinyanjui, Head of East and Central Africa at WorldRemit, comments: “We are delighted to partner with NIC Bank, a leading bank with strong ties to the Kenyan diaspora.
“Our partnership connects us to over 130,000 NIC Bank accounts and several new cash pickup locations across Kenya. From sending money to loved ones to making investments back home, the new service will enable 3 million Kenyans living in over 50 countries to contribute to Kenya’s bright future.”
NIC’s Group Managing Director, John Gachora said the partnership with WorldRemit will strategically position the Bank’s diaspora product offering: “At NIC Bank we are investing significantly in our digital capabilities to deliver value to our customers and make banking easier and convenient. The partnership with WorldRemit is set to cash in on the growing demand for instant, digital remittances among our customers and provides the diaspora with a convenient, efficient and affordable means of sending money back home to their loved ones.
“WorldRemit allows you to transfer money from your bank account using a credit or debit card. The funds can be deposited into your recipient’s bank account or made available for collection from an agent location.”
WorldRemit customers complete over 1 million transfers every month from over 50 countries to over 145 destinations. More than half of its transfers go to Africa.
Visit the WorldRemit website for more information on how to send money to Kenya.
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WorldRemit is changing the way people send money.
It’s easy – just open the app or visit the website – no more agents.
- Transfers to most countries are instant – send money like an instant message.
- More ways to receive (Mobile Money, bank transfer, cash pickup, and mobile airtime top-up).
- Available in over 50 countries and more than 145+ destinations.
- Backed by Accel Partners and TCV – investors in Facebook, Spotify, Netflix and Slack.
WorldRemit’s global headquarters are in London, UK with offices in the United States, Canada, South Africa, Singapore, the Philippines, Japan, Australia and New Zealand.
About NIC Group
NIC Group was incorporated in Kenya in 1959 and was amongst the first non-bank financial institutions to provide hire purchase and installment credit finance facilities in Kenya. It is currently quoted on the Nairobi Securities Exchange with approximately 26,000 shareholders. Its success over the years can be seen in the rapid growth of the Group’s balance sheet, and the expansion of its branch network across the region with 44 branches in Kenya, 5 branches in Tanzania and 2 branches in Uganda. The Group has also established Strategic Business Units that facilitate the provision of a complete suite of financial products and services. These are; NIC Capital, NIC Securities, NIC Insurance Agents and NIC Leasing LLP.
